Palladyne AI Corp. (NASDAQ:PDYN) Receives Consensus Rating of “Hold” from Analysts

Shares of Palladyne AI Corp. (NASDAQ:PDYN) have been assigned a consensus rating of “Hold” from the six brokerages that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $11.00.

A number of research analysts recently issued reports on PDYN shares. Jefferies Financial Group upgraded shares of Palladyne AI to a “hold” rating in a research report on Wednesday, June 10th. Lake Street Capital began coverage on Palladyne AI in a research note on Friday, April 17th. They set a “buy” rating and a $11.00 price objective for the company. Weiss Ratings cut Palladyne AI from a “hold (c-)” rating to a “sell (d-)” rating in a report on Wednesday, May 6th. Zacks Research upgraded Palladyne AI to a “hold” rating in a research note on Wednesday, April 8th. Finally, Northland Securities set a $15.00 target price on Palladyne AI in a report on Monday, June 8th.

Palladyne AI Stock Performance

Palladyne AI stock opened at $5.37 on Wednesday. Palladyne AI has a fifty-two week low of $4.14 and a fifty-two week high of $13.00. The business’s 50-day simple moving average is $6.58 and its two-hundred day simple moving average is $6.49. The company has a market cap of $249.65 million, a PE ratio of -8.80 and a beta of 3.63.

Palladyne AI (NASDAQ:PDYN) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.12). The business had revenue of $3.54 million for the quarter, compared to analyst estimates of $4.93 million. Palladyne AI had a negative net margin of 358.04% and a negative return on equity of 49.17%. As a group, analysts predict that Palladyne AI will post -0.91 EPS for the current fiscal year.

Insider Activity at Palladyne AI

In other Palladyne AI news, CFO Trevor Thatcher sold 4,561 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $6.14, for a total value of $28,004.54. Following the completion of the transaction, the chief financial officer owned 175,697 shares in the company, valued at $1,078,779.58. The trade was a 2.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Stephen Sonne sold 5,245 shares of the stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $6.14, for a total value of $32,204.30. Following the completion of the sale, the insider owned 197,490 shares in the company, valued at approximately $1,212,588.60. The trade was a 2.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 26,982 shares of company stock worth $165,669. Corporate insiders own 13.40% of the company’s stock.

Institutional Investors Weigh In On Palladyne AI

Several large investors have recently bought and sold shares of PDYN. United Capital Management of KS Inc. acquired a new position in shares of Palladyne AI during the 3rd quarter worth approximately $441,000. Quantbot Technologies LP acquired a new stake in Palladyne AI during the 3rd quarter valued at $597,000. Covestor Ltd increased its position in Palladyne AI by 482.2% during the fourth quarter. Covestor Ltd now owns 127,345 shares of the company’s stock worth $542,000 after buying an additional 105,471 shares in the last quarter. Wells Fargo & Company MN increased its position in Palladyne AI by 104.1% during the fourth quarter. Wells Fargo & Company MN now owns 40,136 shares of the company’s stock worth $171,000 after buying an additional 20,474 shares in the last quarter. Finally, Vontobel Holding Ltd. raised its holdings in shares of Palladyne AI by 30.9% in the fourth quarter. Vontobel Holding Ltd. now owns 27,799 shares of the company’s stock worth $118,000 after acquiring an additional 6,556 shares during the last quarter. Hedge funds and other institutional investors own 26.02% of the company’s stock.

Palladyne AI Company Profile

Palladyne AI Corp., a software company, focuses on delivering software that enhances the utility and functionality of third-party stationary and mobile robotic systems in the United States. Its Artificial Intelligence (AI)/ Machine Learning (ML) software platform enables robots to observe, learn, reason, and act in structured and unstructured environments. The company's software platform enables robotic systems to perceive their environment and quickly adapt to changing circumstances by generalizing from their experience using dynamic real-time operations without extensive programming and with minimal robot training.